The EU's current trade disputes with China share similarities with the 1970s-80s trade conflict between Europe and Japan, particularly concerning fears of import competition undermining domestic production in sectors like autos and electronics. However, China's geopolitical status as a "systemic rival" distinguishes it from Japan, which was a political ally.
China held a forum in Berlin to promote imports from the EU, aiming to ease trade tensions and address its growing trade surplus. The event, attended by officials and executives, sought to showcase China's market potential amid rising regulatory hurdles and geopolitical shifts in Europe.
The European Parliament approved cutting import duties on US industrial goods, fulfilling a trade deal and averting new tariffs threatened by Donald Trump. The EU aims to meet a July 4 deadline.
Iran, the US, and mediators suggest a preliminary peace deal to end a three-month war could be signed within days. Pakistan's PM mentioned electronic signing within 24 hours, but Iran's foreign ministry spokesperson urged caution, stating it wouldn't be tomorrow. Disagreements persist over the deal's terms and timeline.
The scheduled summit next week between US President Donald Trump and Chinese President Xi Jinping will almost certainly include proclamations about cooperation, friendship and respect between the leaders of the world’s two largest economies, but beneath the surface, major trade conflict is building, said trade experts on Wednesday. In the past, a weaker China was forced to grit its teeth and grudgingly accept US tariffs, export restrictions and other restrictions, but Beijing has quietly and...
